If you don't know the difference between an Asphalt Emulsion and used oil, I'd suggest you stop dumping the used oil on the ground and educate yourself.
There is a significant difference and use of used oil is not allowed for dust control or particle adhesion. We use different types of added polymers and emulsions to achieve the correct mixture in an Asphalt Emulsion, which is what is applied as what you refer to as "spray oil".
Petroleum based, yes. Used oil, no.